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Anonymous 11:12 - surely such a term is void under the Consumer Rights Act 2015 - see Schedule 2 (Consumer contract terms which may be regarded as unfair); paragraph 6: "A term which has the object or effect of requiring a consumer who fails to fulfil his obligations under the contract to pay a disproportionately high sum in compensation." Just politely point out to the estate agent the error of their ways and tell them that, provided the client agrees that their fees may be paid out to them by you on the client's behalf, then you will be prepared to send the exact amount to clear their uninflated fee by BACS transfer, and not a penny more, within a reasonable time after completion.